The Covid-19 pandemic has led to a significant acceleration of digital transformation. This trend is especially apparent in financial services, where the health crisis prompted an overhaul of legacy processing systems and the widespread implementation of what are known as ABCD technologies – a catch-all term that encompasses artificial intelligence (AI) and automation,...
Prior to the outbreak of Covid-19, medical and wellness tourism was a significant growth industry in many emerging economies. The last decade saw a boom in medical tourism: by 2018 the global market was generating $58.6bn annually, and in 2019 it was forecast to grow at a compound annual growth rate of 11.7% to reach more than $142.2bn by 2026. While the pandemic represents a...
Various governments in the region are looking to new, alternative tourism models to drive their pandemic recoveries, with an emphasis on ecological options and “staycations”. Both in order to reboot its tourism industry and as part of its drive to diversify the economy away from hydrocarbons, Saudi Arabia is developing several major ecological tourism projects. In April 2021...
While Islamic banks emerged relatively unscathed from the 2008 global financial crisis, Covid-19 is having a deeper impact. Compared to conventional financial institutions, Islamic banks are more exposed to small and medium-sized enterprises (SMEs), microfinance and retail lending – particularly in Asia. The industry was on track for strong growth in 2020, but due both to the...
The initial wave of lockdowns in early 2020 prompted education entities to rapidly move to teaching online. While this broad-based shift towards digital learning has largely been reactive, in many cases it accelerated an existing transition to a more blended and technologically oriented approach. However, further investment and policy initiatives are required – including...
While higher education institutions have been effective in developing short-term solutions to some of the challenges associated with the Covid-19 pandemic, they can also play a key role in realising long-term governmental development strategies that can boost the prospects of a sustainable recovery. This is a particularly pressing issue for countries in the Gulf, many of which...
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